C&J Energy Services (NYSE:CJ) Trading Up 10%

C&J Energy Services Inc (NYSE:CJ) was up 10% during mid-day trading on Monday . The company traded as high as $12.54 and last traded at $12.17, approximately 967,454 shares were traded during mid-day trading. An increase of 6% from the average daily volume of 914,876 shares. The stock had previously closed at $11.06.

A number of analysts have issued reports on CJ shares. Wells Fargo & Co raised C&J Energy Services from a “market perform” rating to an “outperform” rating and set a $16.00 target price on the stock in a research report on Thursday. Scotiabank set a $9.00 price objective on C&J Energy Services and gave the stock a “buy” rating in a research report on Monday, August 26th. Piper Jaffray Companies set a $21.00 price objective on C&J Energy Services and gave the stock a “buy” rating in a research report on Monday, May 20th. Zacks Investment Research lowered C&J Energy Services from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. Finally, ValuEngine raised C&J Energy Services from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. C&J Energy Services currently has a consensus rating of “Hold” and a consensus price target of $12.39.

The business has a 50-day moving average price of $9.75 and a two-hundred day moving average price of $12.73. The company has a quick ratio of 1.92, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm has a market cap of $714.40 million, a PE ratio of 15.02 and a beta of 1.41.

C&J Energy Services (NYSE:CJ) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.15). The company had revenue of $501.08 million for the quarter, compared to analysts’ expectations of $535.43 million. C&J Energy Services had a negative return on equity of 3.35% and a negative net margin of 15.12%. The firm’s revenue was down 17.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 EPS. On average, equities research analysts predict that C&J Energy Services Inc will post -0.93 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC acquired a new position in shares of C&J Energy Services during the second quarter worth $35,000. Royal Bank of Canada grew its stake in shares of C&J Energy Services by 8,813.9% during the second quarter. Royal Bank of Canada now owns 3,209 shares of the company’s stock worth $38,000 after purchasing an additional 3,173 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in shares of C&J Energy Services during the second quarter worth $41,000. Price Wealth Management Inc. acquired a new position in shares of C&J Energy Services during the second quarter worth $56,000. Finally, NumerixS Investment Technologies Inc acquired a new position in shares of C&J Energy Services during the first quarter worth $134,000.

About C&J Energy Services (NYSE:CJ)

C&J Energy Services, Inc provides well construction, well completion, well support, and other complementary oilfield services and technologies to oil and gas exploration and production companies throughout the continental United States. It operates through Completion Services and Well Support Services segments.

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